Clariant Ltd. and Wilmar International Limited have signed an agreement to establish a 50-50 joint venture as the global platform for production and sales of amines and selected amines derivatives. The joint venture will be headquartered in Singapore with global sales, distribution and production affiliates. Subject to receipt of regulatory approvals, including merger clearances, the joint venture is expected to be operational in spring of 2013.
“Wilmar and Clariant will leverage on their companies’ individual strengths to create a global platform with significant growth opportunities," said Clariant CEO Hariolf Kottmann. "With this first step, both partners are dedicated to creating a new leading player in the global amine and amine derivatives market. For Clariant it is also an important next move on our way to further optimizing our portfolio. This collaboration combines Wilmar’s integrated agribusiness model and our large presence in basic and downstream oleochemicals with Clariant’s technical expertise and established market presence in amines. The joint upstream and downstream strengths of our businesses make the merits of this venture very compelling."
Clariant will contribute its Industrial and Consumer Specialties (ICS) Business Unit’s sales activities of relevant amines and defined derivatives to the joint venture as well as its amines plant in Germany and production output from its amines plant in Brazil. Headquartered in Muttenz, Switzerland, ICS has the highest sales volume in the Clariant Group and is one of the largest providers of specialty chemicals and application solutions for consumer care and industrial markets. Wilmar will contribute a new plant in China as well as its oleochemical expertise, including access to renewable raw materials. Wilmar is among the world's largest processors and merchandisers of palm and lauric oils.
Clariant and Wilmar establish joint venture
Published October 26, 2012
Related Breaking News
Related Paint & Coatings Manufacturer News